BEIJING — China’s nonfinancial outbound direct investment (ODI) dropped 41.9 percent year on year in the first three quarters as authorities stepped up efforts to curb irrational investment overseas, official data showed on Oct 17.

Chinese companies invested a total of $78 billion in 5,159 enterprises from 154 countries and regions during the January-September period, the Ministry of Commerce said on its website.

The investment mainly went to the leasing and commercial services, manufacturing, wholesale and retail, and information technology sectors.

Outbound investment to countries involved in the Belt and Road Initiative stood at $9.6 billion during the period, accounting for 12.3 percent of the total ODI, up 4 percentage points from the same period of 2016.